How Negative Interest Rates Will Turbocharge The Migrant Crisis.
In the 1989
Batman movie, the Joker (played by Jack Nicholson) showers a crowded Gotham street with free money.
In the scene, it looks like it’s raining hundred-dollar bills. The people love it. Little do they know, the money is actually a trap. Once the Joker has lured them into the street, he unleashes poisonous gas.
I think the latest gimmick to stimulate the economy is pretty much the same thing. It’s one of the most absurd ideas I’ve heard in a while. And that’s saying something, considering the outrageous schemes our economic luminaries have recently come up with, like…
Once European governments start handing every person thousands of dollars in free money each month (more than many in Africa make in a year), everyone will be scrambling for Europe.
A basic income is a sure recipe for economic disaster and increased cultural tensions. It’s an environment where blowhards and demagogues flourish. Unfortunately, this has happened repeatedly throughout Europe’s history. Once again, it’s going to lead to some very bad things.
I think a basic income will greatly accelerate this recurring trend.
Whether you call it free money, a basic income, or helicopter money, the idea is spreading. It’s the next potion the economic witch doctors will use once their latest scam—negative interest rates—not only fails to cure our economic ailments, but predictably makes them worse.
http://www.zerohedge.com/news/2016-03-16/how-negative-interest-rates-will-turbocharge-migrant-crisis